Visa and Mastercard Agree to $197 Million Settlement

Visa and Mastercard, the two giants in the card payment space, have agreed to pay a total of $197 million to settle a class action lawsuit brought by millions of consumers for allegedly keeping cash access fees artificially inflated, Reuters reported.

The settlement involved Visa and Mastercard consumers who withdrew cash from bank-operated ATMs since 2007. According to the plaintiffs’ attorneys, the settlement will “deliver immediate and assured relief.”

Read more at Finance Magnates